2022 Full Year Results
Corporate and Institutional Banking
Global Markets - 4Q22
€m
Global Markets
Revenues
incl. FICC
incl. Equity & Prime Services
4Q22
4Q21
4Q22 /
3Q22
4Q22 /
2022
2021
2022 /
4Q21
3Q22
2021
1,657
1,338
+23.8%
1,986
-16.6%
8,660
6,820
+27.0%
1,094
755
+44.8%
1,124
-2.7%
5,234
3,947
+32.6%
563
583
-3.4%
863
-34.7%
3,426
2,872
+19.3%
Operating Expenses and Dep.
-1,480
-1,224
+20.9%
-1,167
+26.8%
-5,806
-4,924
+17.9%
Gross Operating Income
177
115
+54.4%
819
-78.4%
2,855
1,896
+50.6%
Cost of Risk
-3
10
n.s.
28
n.s.
11
27
-57.7%
Operating Income
174
124
+39.6%
847
-79.5%
2,866
1,923
+49.1%
Share of Earnings of Equity-Method Entities
1
5
-75.2%
3
-50.6%
14
14
+0.7%
Other Non Operating Items
-9
-5
+93.1%
-1
n.s.
-10
5
n.s.
Pre-Tax Income
166
125
+32.8%
848
-80.4%
2,870
1,942
+47.8%
Cost/Income
89.3%
91.4%
-2.1 pt
58.8%
+30.5 pt
67.0%
72.2%
-5.2 pt
Allocated Equity (Єbn, year to date)
12.0
10.7
+12.5%
Revenues: +23.8% vs. 4Q21 (+20.4% at constant scope and exchange rates)
Very strong increase in derivatives demand, driven in particular by reallocation and hedging needs on fixed-income
and currency products, emerging markets and commodities
Client demand less sustained in equity markets, particularly in derivatives
Operating expenses: +20.9% vs. 4Q21 (+16.0% at constant scope and exchange rates)
•
Impact of the faster pace of growth in activity in 4Q22
Exchange-rate and scope impact (~25% of growth vs. 4Q21)
Positive jaws effect (+2.9 pts)
1. Consolidation of Exane as at 01.07.21
BNP PARIBAS
The bank for a changing world
2022 Full Year Results | 62View entire presentation